Privacy Policy

https://www.bpoint.com.au/payments/marketlend/Pages/Terms

1. Introduction

1.1       Welcome to Marketlend. By registering to use this website, www.marketlend.com.au and any related website address (Website) you agree to be bound by these Terms of Service either in your capacity as a Borrower or a Lender. You also consent to abide by our Privacy Policy, and agree to any other terms and conditions brought specifically to your attention from time to time.

1.2       If as a consequence of using our Service you subsequently enter into a loan agreement (either as a Borrower or a Lender) the rights and obligations owed by each party to the other shall be governed by that loan agreement.

1.3       It is important that you read these Terms of Service and you should print or otherwise save a copy for your future reference.

1.4       If there is a conflict between these Terms of Service and any loan agreement with Marketlend or the trustee of a trust where your loan is funded, the terms of that loan agreement shall prevail.

1.5       Any reference to “you” means you or the corporate entity or trust you are authorised to represent. By your agreement to the terms of service and abide by our Privacy Policy, you do so on your behalf, and on behalf of any authorised entity you represent to us.

1.6       Marketlend Pty Ltd is special purpose company, wholly owned subsidiary of Tyndall Capital Pty Ltd (Tyndall).

1.7       The Websites www.marketlend.com.au, and www.marketlend.com are operated by Tyndall.

2. Marketlend’s Services

2.1       Through the Website (by any other means) our principal role is to perform administrative functions on behalf of Borrowers and Lenders in order to bring together prospective Borrowers and Lenders, to provide a stream-lined process for entering into a loan agreement either directly or by way of a trust managed by Tyndall (Loan Agreement) and to co-ordinate and facilitate the payment and collection of sums due under or in connection with such Loan Agreements (including certain limited actions upon a Borrowers default as set out in these Terms of Service).

2.2       We do not:

a.      provide any advice or express any opinion to either prospective Lenders or Borrowers on the question of whether to enter into any Loan Agreement;

b.     make any representation or give any opinion as to the credit worthiness of a Borrower;

c.      make any representation or give any opinion as to the accuracy of the online credit check of our credit referencing parties.

2.3       A Lender must form their own opinion regarding the creditworthiness of a Borrower and undertake its own research, analysis and assessment of each Borrower for each Loan Agreement, and where appropriate, seek its own independent financial and/or legal advice.

2.4       Whilst through the Website, we do make available certain information about a Borrower, with the intention of helping a Lender make a decision and provide a rating tool that gives a result as to the likelihood of repayment of the note maybe, we make no representation that such information is complete accurate and not misleading, and we shall have no liability whatsoever for any information supplied through the Website about a Borrower, nor any opinion expressed or implied in relation to the creditworthiness of a Borrower (in the form of a risk rating or otherwise), which proves to be inaccurate, incomplete or misleading.

2.5       Whilst the Borrower may grant Security to the Lender by Marketlend obtaining a personal property security interest or the Marketlend trusts holding personal property security interest, we do not guarantee that the Borrower will repay the Loan and give no undertaking whatsoever to the Lender that any Security will ensure that the Borrower will repay the Loan. The risk of non-payment should be taken into account by the Lender in deciding whether to enter into a Loan Agreement, and in deciding the interest rate they wish to charge for their Loan.

2.6       All of our fees are in payment for our role in supplying the services set out herein. They are not for dealing with any analysis of the information provided by Borrowers which we carry out as part of our free borrower due diligence and which is always undertaken on a no-fee, no-liability basis.

 

3. Lawful Purposes

3.1       You agree to use Marketlend only for lawful purposes, and in a manner that does not infringe the rights of or restrict or inhibit the use and enjoyment of Marketlend by any third party. This includes conduct which is unlawful or which may harass or cause distress or inconvenience to any person, the transmission of obscene or offensive content or disruption to Marketlend.

3.2       You must not post or transmit via Marketlend any unlawful, defamatory, obscene, offensive or scandalous material, or any material that constitutes or encourages conduct that would contravene any law.

4. Disclaimer

4.1       Your use of Marketlend does not:

a.      affect or reduce any obligation owed to You by Marketlend or Tyndall or its related entities;

b.     reduce any obligation You owe to Marketlend or Tyndall or its related entities or the trustee for Marketlend in the funding of a loan.

4.2       Marketlend is not a substitute for independent professional advice and you should obtain any appropriate professional advice relevant to your particular circumstances.

5. Consent and Content

5.1       If you participate on the Marketlend platform in anyway you may receive information including but not limited to emails, correspondence, short message signals, notices or disclosure documents (Information) from Us. Your participation where you provide any contact details means you consent to receiving Information. This consent is not withdrawn unless you advise us that you do not consent to receiving Information.  We do accept information, on Marketlend provided by person or people making such posting, and we are not responsible for information provided by the person or people who made such postings. We do not endorse, support, or guarantee the truthfulness, accuracy, or reliability of any the comments posted on Marketlend or endorse any of the opinions expressed.

5.2       We take reasonable care in linking to other websites but we have no direct control over the content presented in those websites or the availability of those websites.

5.3       We make no representation that the material on any linked websites does not infringe the intellectual property rights or any other rights of any person. We do not authorise the reproduction of such material.

5.4       We do not endorse or recommend any links to external websites, or third party content, including products and services offered by, from or through those websites or their content.

5.5       We reserve the right to restrict the information sent by one participant including any communication to another within a forty eight hour period when we determine necessary at our sole discretion.

6. Opening a Marketlend User Account

6.1       You will need to register with us to create a User Account before you are able to borrow or lend any money. 

6.2       We will need:

a.      your correct e-mail address;

b.     your current home address;

c.      your mobile or home phone number;

d.     your full name (including middles names);

e.      your correct dates of birth; and/or

f.      other relevant personal information.

6.3       You agree to notify us within 30 days of any change in the above information.

6.4       Before being accepted as a User, you will verified via Marketlend’s verification process. 

6.5       Borrowers verify their identity through a process of email, sms, and drivers licence/passport identification. Borrowers and Lenders may need to provide a voice sample, which will be used as your digital signature to access certain aspects of the site, and other facilities of Marketlend. Lenders must verify themselves to withdraw money from Marketlend platform. No money will be released until a Lender’s identity is verified.

6.6       We verify your identity through a service provider called identity verification services Ltd. This verification is for your protection, regulatory purposes and the Lender protection. Any data collected in the process is protected and held by myverifiedid. (See myverifiedid.com for more details)

6.7       We accept no liability whatsoever for any activity on your account by anyone using your personal information.

6.8       If you suspect that there has been unauthorised use of your account of any kind whatsoever, you must notify us of this immediately following the notification procedure set out in these terms.

6.9       You agree that you will not in any way change or attempt to change or avoid the login procedure used on our Website.  In our absolute discretion, and for your protection, we will have the right to refuse to act on your instructions where we suspect that access has or is being gained by persons unauthorised to do so, or we suspect other illegal or fraudulent activity.

7. Becoming a Marketlend Lender

7.1       Lender Pre-Conditions:

a.      The Lender must be an individual, a partnership, a limited liability partnership, a limited company or a public body;

b.     If the Lender is lending in their capacity as an individual, the Lender must be at least 18 years old;

c.      The Lender warrants to use that it is not lending in the course of a business or carrying out any type of regulated consumer credit business;

d.     The Lender must tell us if it has a consumer credit license and if the Lender does not have one to begin with it must tell us if it acquires one;

e.      The Lender agrees to ensure that all contact details supplied are accurate and kept up-to-date.

7.2       As a Lender you will be given access to our platform of Borrowers, where you may Bid in relation to any one Loan Request.

7.3       Once a Borrower has received enough Bids to fulfill their Loan Request (100%), the Loan shall be deemed to be a “Successful Bid”.

7.4       Your Investment will not be eventuated until the Borrowers Loan Request has been deemed a “Successful Bid”.

7.5       In the event that the Loan you have Bid on is not deemed a “Successful Bid”, within the designated time frame, you will have made no commitment, and may Bid on another Loan.

8. Becoming a Marketlend Borrower

8.1       Borrower Pre-Conditions:

a.      The Borrower must be a business which is operating and is registered as a limited liability company, or limited liability partnership;

b.     The Borrower must comply with basic credit and fraud risk criteria which will include obtaining a minimum score from out Credit Checking Agency;

c.      The Borrower agrees that the details that it submits to us about its business may be anonymously published on the Website and/or anonymously disclosed by us directly to a Lender.

8.2       Before you become a Borrower, Marketlend will perform an identification verification process. A credit and financial check will then be performed. Only once this process has accepted you, will you become a Marketlend Borrower.

8.3       Once you have become Marketlend Borrower you will be able to enter information relating to the Loan you are seeking.

8.4       Your Loan will then be placed on our Platform, where Lenders can Bid on your Loan.  Only once your Loan has been 100% funded by the Lender(s) within the designated time frame, will you be granted funds by payment to the requested parties. Unless agreed we will not pay the borrower directly, we will pay the supplier or service provider.

8.5       In the event that your Loan does not reach 100% funding in the designated time frame, you will not be entitled to any of the Bids on your Loan. However we will contact you to see if you wish to relist on different terms..

9. Borrower and Lender Checks

9.1       As part of the registration process we and certain people authorised to act on our behalf, will check your identity using third party credit checking services, or other authorised third parties.  Providing the information and documents we ask for is a pre-condition to using the Service.

9.2       Having registered with us and applied to borrow money through us, using third party services, we will undertake identity verification, credit checks and fraud checks on you and in case of a body corporate or trust, the body corporate or trust.

9.3       You warrant to us, and each Lender and Borrower warrants to each other, that all information submitted by them in the course of the application and borrowing process was at the time of it submission, and is at the time a Loan Agreement is entered into, true, accurate and is not misleading. If any information changes so that this is no longer the case, you must immediately update the information so that it complies with the warranty in this clause. Such updates will be made available to the other interested parties. A failure to provide accurate information may result in a Loan being repayable early under the terms of the Loan Agreement.

10. Binding effect of Bids

10.1    As a Lender, you agree that in placing a Bid, such Bid cannot be withdrawn or altered without our consent and will have contractual force if accepted by the Borrower.

10.2    It is a condition of a Loan being made (and paid by us) that it is fully funded. A completed Loan will be fully funded by those Lenders who together have placed Bids which in aggregate are equal to the total loan requested as part of the Loan Request.

11. Agreement – Borrowers and Lenders

11.1    Upon becoming Marketlend User;

11.1.1         If a borrower, you agree to the terms of service, and you will accept and execute a loan agreement (and its terms and conditions) by signature, when prompted to do so, before any action is made in relation to any Loan.

11.1.2         If an investor, you agree to abide by the terms of service, and treat all information confidential and any access to the borrower’s information must ONLY be used for assessment to invest and not disseminate this information to any person without our consent. Breach of this requirement will result in cancellation of the registration, claim for damages by us, and a freeze of all funds held by us until the full damages is offset against those funds.

11.2    Prior to a listing, the borrower has entered into a loan agreement with Marketlend. When a Loan Request is fully funded by Bids, the agreement checked, and lodged in our depositary of security agreements. In some cases, the loan agreement between the Borrower and Lender(s) will be triggered. In that case, if necessary, we will automatically populate all parts of the Loan Agreement and arrange for its execution by the Borrower.

11.3    If you purchase a Loan from another Lender (‘the Transferee’), you will take an assignment of the Transferees rights and interest in the Loan you have purchased.

12. Selling your Loan

12.1    If a Lender would like to sell his Loan he can sell it to other registered users of the Service (‘the Transferor’).

12.2    The price the Lender can sell his Loan for is subject to the restriction that the Lender can apply a mark-up or mark-down of no more than 5% of the outstanding amount of the Loan without Marketlend’s consent.

12.3    On transfer of the Loan, the accrued interest on the capital outstanding shall belong to and be paid to the buyer of the Loan (for the purpose of this clause, ‘the Transferee’).

12.4    On the sale of any Loans, the proceeds will be credited to the Transferor’s User Account and debited from the Transferee’s User Account.

12.5    Upon sale of a Loan our charges for the transaction will be debited from the Transferor’s User Account.

12.6    Loans for sale will be listed on the Website for sale for a definite period of time. At the end of the sale period, any Loans which have not been sold will cease to be listed. The Lender can if they choose re-list those Loans at the end of each successive listing period.

12.7    The capital and interest repayment is paid to the incumbent owner of the Loan on the day the repayment is processed.

12.8    Any rerating and the transfer fee to Tyndall Capital for the transfer of the loan is payable by the seller on the confirmation of the seller or buyer of the transfer. Transfer fees are published on the Marketlend website from time to time.

13. Security

13.1    We coordinate the development and management of Marketlend, however some interactions with Marketlend occur on systems under the control of Tyndall appointed third parties.

13.2    The Tyndall appointed third party is responsible for the security of information while it is collected by, stored on or passing through the Marketlend (www.marketlend.com.au) system.

13.3    We strive to protect comments and information you provide on Marketlend. We will use all reasonable endeavours to ensure that your comments and information are not compromised. However, we cannot guarantee that no Harmful Code will enter Marketlend. You should be aware of the risks associated with using websites.

13.4    We recommend that you use appropriate and up-to-date firewall and anti-virus software to protect your computer systems.

 

14. Privacy

14.1    By submitting data to Marketlend, you give Marketlend consent to use your sensitive personal data.  Marketlend will use this data when you apply for a loan to carry out a complex credit and finance checking process.  The results of this check will be available to you and the lender via a Dropbox link or otherwise.

14.2    We will only use and disclose your personal information to a person, body or other Appointed Third Party:

a.      to provide you with a service that you have requested;

b.     as authorised by law, for example, if a law enforcement authority or court order lawfully directs us to disclose the information of a user.

c.      (Borrowers only) to inform Lenders of the characteristics of your loan.  This will involve Lenders being given access to certain, information, about your financial and personal details.

d.     to update or revise the rating assigned to the note that security is your loan.   

14.3    For more information about how we protect your privacy and personal information, please see our Privacy Policy.

14.4    In agreeing to these terms and conditions, and by accessing and using the Marketlend Website, you are agreeing to our Privacy Policy.

15. Termination

15.1    If you no longer want to be a Member you can let us know and we will end your membership as soon as any current loan agreement are repaid and/or come to an end.

15.2    We shall in our absolute discretion end your membership, for such reason as:

a.      You breach these terms and conditions.

b.     You breach any loan agreement.

c.      We suspect that you have committed fraud, been involved in money laundering or other criminal activities.

d.     You use the Website or Platform in any of the following ways;

                     i.     In any way that causes, or is likely to cause, the Website or access to it to be interrupted or damaged in any way;

                    ii.     For fraudulent purposes or in connection with a criminal offences;

                  iii.     To send, use or reuse any material that is illegal, offensive, abusive, indecent, defamatory, obscene or menacing; or in breach of copyright, trademark, confidence, privacy or any other right or is otherwise injurious to third parties, or objectionable, or which consists of or contain software viruses, political campaigning, commercial solicitation, chain letters, mass mailing or any “spam”.

16. General

16.1    These Terms of Service are governed by the laws of the New South Wales, Australia and you agree to submit to the exclusive jurisdiction of the courts of the New South Wales.

16.2    If any of these Terms of Service are held to be invalid, unenforceable or illegal for any reason, the remaining Terms and Conditions will continue in full force.

16.3    We will endeavour to facilitate uninterrupted access to the Website. Access to the Website may be suspended, restricted or terminated at any time.

16.4    These Terms of Service do not negate any terms that apply to your use of any other government website.

16.5    You warrant and represent that you have taken all reasonable precautions to ensure that any data you upload to the Website is not infected with any virus or anything else which may have a destructive effect on any part of the Website.

16.6    We may revise these Terms of Service from time to time.

16.7    Please contact us if you have any questions, problems or feedback regarding our site at compliance@marketlend.com.

17. Marketlend Fees

17.1    Marketlend provides you with a Platform that allows you to lend or borrow money, in exchange for providing this facility Marketlend will be paid an administration fee and from time to time may levy other charges.

17.2    Marketlend or Tyndall Capital may charge a Lender a fee or commission, any fee will be communicated and clearly disclosed to the Lender.

17.3    The administration fee payable to us by the Borrower will be clearly set out in the loan agreement and/or any other agreements with Marketlend.

17.4    Marketlend will charge the Borrower, an application fee upon the filing of an application, and a set fee once their Loan becomes 100% funded, for the Borrower’s use of and access to Marketlend’s Platform.

17.5    Marketlend or Tyndall Capital  reserves the right to increase or waive its fees at its sole discretion.

18. Limitation of Liability

18.1    Each Lender agrees that Marketlend (including our officers, employees, agents or consultants) give no warranty or representation about the ability of any Borrower to repay any Loan made by you to them.  Whilst Marketlend provides some help in reaching a view about a Borrower’s credit worthiness, our charges and commissions in connection with each Loan are not in return for us sharing with you the risk of making a Loan, which would be much higher if that was the case.

18.2    Each Lender acknowledges that they are bidding and lending entirely at their own risk.  If you are unsure about whether entering into a loan using the Website or Platform is suitable for you, you should contact an Independent Financial Adviser.

18.3    Each Borrower acknowledges that Marketlend takes no responsibility for their credit rating, and that Marketlend has the right to review and change a Borrower’s credit rating at their absolute discretion.

18.4    Each Borrower acknowledges that Marketlend in no way guarantees that a Loan request will be bid on. 

18.5    Any guidance that we make available on the Website or in any other marketing materials, detailing the possible rate of return on a Loan, are for guidance purposes only and are not guaranteed. The particular rate of return on any Loan will be set out in the Peer-to Peer-Loan Agreement

18.6    The information we make available on the Website does NOT constitute advice, recommendation or an endorsement of any Loan Requests, Loans, or of the Borrower.
The information we make available on the Website is not intended to be relied upon as a sole basis for deciding whether or not to lend to a particular Risk Graded borrower.


18.7    We make no representation, warranty nor give any guarantee;


a.      That data displayed about a loan request is up to date and free from error;

b.     That a loan request will be fulfilled.

18.8    To the extent permitted by law, You agree that Tyndall Capital or Marketlend or related entities to Tyndall are not liable for any damage arising out of or in connection with the use of this website.

18.9    This includes without limitation, direct loss, loss of business or profits (whether or not the loss of such profits was foreseeable, arose in the normal course of things or you have advised Tyndall or Marketlend of the possibility of such potential loss) damage caused to your computer, computer software, data, systems and programs and the data or to You or any other direct or indirect consequential and incidental damages.

19. Waiver

19.1    A waiver of any right or remedy under these terms is only effective if given in writing and shall not be deemed a waiver of any subsequent breach or default. A failure or delay by you or us to exercise any right or remedy provided under these terms or by law shall not constitute a waiver of that or any other right or remedy, nor shall it preclude or restrict any further exercise of that or any other right or remedy.

19.2    No single or partial exercise of any right or remedy provided under these terms or by law shall preclude or restrict the further exercise of any such right or remedy.

20. Definitions

“Member” means any person registered on the Marketlend’s website or a borrower who has made a loan application to Marketlend regardless of its status.

 

“Lender” means any person who uses the Marketlend’s website or Tyndall services to deposit monies in an entity managed by Tyndall for the purpose to enable a person to borrow in part or whole these monies.

 

“Borrower” means any person who uses the Marketlend website to borrow monies from an entity managed by Tyndall.

 

“Privacy Policy” means the policy named Tyndall Capital Privacy Policy available on Marketlend.com.au or upon request at compliance@marketlend.com.au